GE receives antitrust clearance for proposed acquisition of Arcam

Mon, Oct 10, 2016 08:00 CET

Stockholm, October 10, 2016. GE Sweden Holdings AB (“GE”), a Swedish company within the GE Aviation operating unit and an indirectly wholly-owned subsidiary of General Electric Company, has received antitrust clearance for its recommended public cash offer (the “Offer”) to acquire all ordinary shares [1] in Arcam Aktiebolag (publ) (“Arcam”).

Completion of the Offer has been subject to, inter alia, the receipt of all necessary regulatory, governmental or similar clearances, approvals and decisions and the resolution of any investigations of or proceedings challenging the transaction, including from competition authorities. The Austrian Competition Authority (German: Bundeswettbewerbs­behörde) has cleared GE’s proposed transaction to acquire Arcam and completion of the Offer is thereby no longer conditional upon such regulatory, governmental or similar clearances.

The acceptance period of the Offer is scheduled to expire on October 14, 2016. Subject to the Offer being declared unconditional no later than on or around October 19, 2016, the preliminary date for settlement is expected to be October 24, 2016. GE reserves the right to extend the acceptance period as well as the right to defer the date for settlement.

Additional Information

The information was submitted for publication on October 10, 2016, at 8.00 a.m. CET.

For additional information about the Offer, including the offer document relating to the Offer (the “Offer Document”), please visit www.geaviation.com/additive. All media inquiries should be directed to:

Rick Kennedy, Executive, GE Aviation Communication, +1 513 607 0609.

Important Information

Important Information for U.S. persons

This press release is not an offer to purchase or a solicitation of an offer to sell shares and ADSs of Arcam. The solicitation and the offer to purchase shares and ADSs of Arcam is made pursuant to a U.S. offer document.

Shareholders and holders of ADSs of Arcam are advised to read the Offer Document (or, with respect to residents in the U.S., the U.S. offer document), as may be amended or supplemented from time to time, before making any decision with respect to the Offer, because such document contains important information about the Offer and the parties thereto.

Investors and shareholders may obtain free copies of the Offer Document, as may be amended or supplemented from time to time, at the website of GE Aviation at www.geaviation.com/additive and at the website of Handelsbanken Capital Markets at www.handelsbanken.se/investeringserbjudande.

Other Important Information

The Offer is not being made to, and acceptances are not approved from, persons (other than U.S. persons) whose participation in the Offer requires that an additional offer document is prepared or registration effected or that any other measures are taken in addition to those required under Swedish law, except where there is an applicable exemption.

This press release and any related offer documentation will not be distributed and must not be mailed or otherwise distributed or sent in or into any country in which the distribution or offering would require any such additional measures to be taken or would be in conflict with any law or regulation in such country – any such action will not be permitted or sanctioned by GE. Any purported acceptance of the Offer resulting directly or indirectly from a violation of these restrictions may be disregarded.

The Offer is not being made, directly or indirectly, by use of mail or any other means or instrumentality (including, without limitation, facsimile transmission, electronic mail, telex, telephone and the internet) in or into Australia, Hong Kong, Japan, Canada, New Zealand or South Africa, and the Offer cannot be accepted by any such use, means, instrumentality or facility of, or from within Australia, Hong Kong, Japan, Canada, New Zealand or South Africa. Accordingly, this press release and any related offer documentation are not being and should not be mailed or otherwise distributed, forwarded or sent in or into Australia, Hong Kong, Japan, Canada, New Zealand or South Africa.

GE will not deliver any consideration from the Offer into Australia, Hong Kong, Japan, Canada, New Zealand or South Africa.

This press release is not being, and must not be, sent to shareholders with registered addresses in Australia, Hong Kong, Japan, Canada, New Zealand or South Africa. Banks, brokers, dealers and other nominees holding shares for persons in Australia, Hong Kong, Japan, Canada, New Zealand or South Africa must not forward this press release or any other document received in connection with the Offer to such persons.

This press release has been published in English and Swedish. In the event of any discrepancy in content between the two language versions, the English version shall prevail.

Forward-Looking Statements

This press release contains "forward-looking statements" – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause GE Group’s (General Electric Company, together with its subsidiaries) actual future results to be materially different than those expressed in our forward-looking statements, see the Offer Document at www.geaviation.com/additive and GE Group’s website at http://www.ge.com/investor-relations/disclaimer-caution-concerning-forward-looking-statements as well as our annual reports on Form 10-K and quarterly reports on Form 10-Q. We do not undertake to update our forward-looking statements. This press release also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially.

[1]The Offer also includes a public offer to tender to GE all American depositary shares (each an “ADS”), each ADS representing the right to receive one ordinary share in Arcam; it being understood that such underlying share cannot be tendered separately in the Offer.